Trimble Navigation Ltd. (TRMB) Reaches New 1-Year High at $28.09
Trimble Navigation Ltd. (NASDAQ:TRMB) shares hit a new 52-week high on Monday . The company traded as high as $28.09 and last traded at $27.86, with a volume of 636,929 shares trading hands. The stock had previously closed at $27.73.
TRMB has been the topic of a number of research analyst reports. Raymond James Financial Inc. initiated coverage on Trimble Navigation in a report on Monday, June 13th. They set an “outperform” rating and a $30.00 price target on the stock. Wedbush reiterated a “buy” rating on shares of Trimble Navigation in a report on Sunday, June 26th. Zacks Investment Research downgraded Trimble Navigation from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. FBR & Co initiated coverage on Trimble Navigation in a report on Wednesday, May 11th. They set an “outperform” rating and a $32.00 price target on the stock. Finally, Morgan Stanley reiterated a “hold” rating on shares of Trimble Navigation in a report on Tuesday, April 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Trimble Navigation has an average rating of “Buy” and an average price target of $26.83.
The company has a market capitalization of $6.93 billion and a P/E ratio of 60.467. The stock has a 50 day moving average of $25.78 and a 200-day moving average of $24.52.
Trimble Navigation (NASDAQ:TRMB) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by $0.01. During the same period in the previous year, the company posted $0.28 EPS. The firm earned $609.60 million during the quarter, compared to the consensus estimate of $611.79 million. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Analysts expect that Trimble Navigation Ltd. will post $1.18 earnings per share for the current year.
In other news, CFO Robert G. Painter sold 11,919 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $26.85, for a total transaction of $320,025.15. Following the completion of the sale, the chief financial officer now owns 34,380 shares in the company, valued at $923,103. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP James A. Kirkland sold 1,391 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $24.19, for a total value of $33,648.29. Following the sale, the vice president now owns 15,426 shares of the company’s stock, valued at approximately $373,154.94. The disclosure for this sale can be found here.
Other large investors have added to or reduced their stakes in the company. I.G. Investment Management LTD. increased its stake in Trimble Navigation by 1.3% in the fourth quarter. I.G. Investment Management LTD. now owns 87,200 shares of the company’s stock worth $1,870,000 after buying an additional 1,100 shares during the last quarter. KBC Group NV increased its stake in Trimble Navigation by 13.0% in the fourth quarter. KBC Group NV now owns 77,107 shares of the company’s stock worth $1,654,000 after buying an additional 8,876 shares during the last quarter. Employees Retirement System of Texas increased its stake in Trimble Navigation by 12.1% in the fourth quarter. Employees Retirement System of Texas now owns 342,000 shares of the company’s stock worth $7,336,000 after buying an additional 37,000 shares during the last quarter. Finally, Trexquant Investment LP increased its stake in Trimble Navigation by 85.8% in the fourth quarter. Trexquant Investment LP now owns 91,800 shares of the company’s stock worth $1,969,000 after buying an additional 42,400 shares during the last quarter.
Trimble Navigation Limited is a provider of technology solutions for professionals and field mobile workers to transform work processes. The Company operates through four segments: Engineering and Construction, Field Solutions, Mobile Solutions and Advanced Devices. Its products include equipment that automates large industrial equipment, such as tractors and bulldozers; integrated systems that track fleets of vehicles and workers and provide information and analytics to the back-office; data collection systems that enable the management of geo-referenced information; software solutions that connect all aspects of a construction site or a farm, and building information modeling (BIM) software that is used throughout the design, build and operation of buildings.
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